Why Are Udemy Shares Surging? Coursera Moves to Buy UDMY

Udemy, Inc. (NASDAQ: UDMY) stock experienced a dramatic surge in premarket trading on Wednesday, December 17, 2025, following a major acquisition announcement. The online learning platform’s shares jumped 28.12% to $6.88 in premarket trading after closing at $5.37 on December 16. The catalyst for this sharp move was education technology firm Coursera’s (NYSE: COUR) announcement that it plans to acquire Udemy in an all-stock transaction valued at approximately $2.5 billion.

The deal represents a significant consolidation in the online education sector and promises to create a comprehensive learning platform with combined annual revenue exceeding $1.5 billion.

Coursera to Acquire Udemy in All-Stock Deal

Under the terms of the merger agreement, Udemy stockholders will receive 0.800 shares of Coursera common stock for each share of Udemy they own. This exchange ratio represents a 26% premium based on the average closing prices of both companies over the 30 trading days prior to the announcement.

The deal values the combined entity at approximately $2.5 billion based on December 16 closing prices. Following the transaction, existing Coursera stockholders will own approximately 59% of the combined company, while Udemy stockholders will hold the remaining 41%.

The companies expect to achieve significant cost synergies, projecting annual run-rate savings of $115 million within 24 months of closing. The combined entity will operate under the Coursera name, trade on the NYSE under the ticker symbol COUR, and be headquartered in Mountain View, California.

Coursera CEO Greg Hart will continue to lead the merged organization, while Chairman Andrew Ng will maintain his position. The Board of Directors will consist of nine members—six from Coursera and three from Udemy.

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Premarket Surge Reverses UDMY’s Yearlong Decline

Prior to the acquisition announcement, Udemy stock had been struggling significantly. The company’s shares closed at $5.27 on December 16, 2025, and had declined 34.75% year-to-date and 35.07% over the previous 12 months.

The stock’s 52-week range stretched from $4.86 to $10.61, reflecting substantial volatility. With a market capitalization of approximately $807 million before the announcement, Udemy had been trading well below analyst expectations, with a consensus price target of $9.67.

The premarket surge to $6.88 represented a dramatic reversal of fortune for Udemy shareholders, who will benefit from the 26% premium built into the deal structure. The company reported revenue of $195.68 million in Q3 FY25 with earnings of $20.35 million, though it remained unprofitable on a trailing twelve-month basis with an EPS of -$0.03.

The acquisition by Coursera provides an exit opportunity for investors who have endured significant losses, while creating what executives describe as meaningful benefits for learners, enterprise customers, and instructors across both platforms.

Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.